Stem Cell Sciences, the pioneering Edinburgh University spin-out which aims to cure degenerative disorders, posted a wider first-half loss, but it said it expects to introduce its human neural stem cell platform before the end of the year.
The Alternative Investment Market-listed company reported a pre-tax loss of £1.75m for the six months to the end of June, compared with a restated £1.1m loss for the last year. Revenues fell to £460,000 from a restated £494,000.
However, the company said the pharmaceutical research and development market for its products was expanding, and it added that it will deliver higher full-year revenues.
Stem cells are the building blocks of other cells, which researchers believe can be coaxed and grown into any type of cell in the human body.
The firm ultimately aims to create the technology for stem cells to be implanted directly into the body to repair the damage caused by a range of degenerative disorders and eventually to play a major role in curing diabetes, Aids, multiple sclerosis, Parkinson's and Alzheimer's, as well as helping patients who have suffered strokes and spinal cord injuries.
Dr Peter Mountford, Stem Cell's chief executive, said: "All products are progressing well through the development pipeline, with the launch of our human NS cell platform expected for the fourth quarter this year, (and an) adipose cell and bone cell platform to follow shortly thereafter."
Earlier this year, the company licensed the use of its novel mouse neural stem cell technology to Merck, a major US-based pharmaceutical company, for research use.
The company believes NS cells have potential broad research applications in the pharmaceutical industry.
Shares in Stem Cell Sciences, which also has operations in Cambridge, the US, Australia and Japan, were yesterday flat at 31.5p.
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